Social justice funds addressing diversity, equity and inclusion are gaining traction with a growing base of institutional investors, leading asset managers to develop and offer solutions that invest in companies and communities that support people of diverse backgrounds.
U.S. colleges and universities’ adherence to ESG principles is growing as institutions have increased their commitment to ESG in their investment policies and portfolios, while others are considering incorporating policies, according to the 2022 NACUBO-TIAA Study of Endowments.
By now, most know that less than 2% of the U.S.-based investment management industry’s $82 trillion in assets is handled by diverse managers. Maybe less know that historically Black college and university endowments make up an even smaller percentage of higher education endowments nationally.
Foundations continue to increase their investments with diverse-owned firms while peeling back the curtain and providing greater transparency on their portfolios, according to the John S. and James L. Knight Foundation’s Diversity of Asset Managers Research Series: Philanthropy.
The Diverse Asset Managers Initiative is calling on Yale University to increase its diversity, equity and inclusion ef forts.
Launching your own firm at the onset of a global pandemic is not for the faint of heart, but that is exactly what Heather Fernstrom Border and Jennifer Stevens did in April 2020.
The university surveyed 100 investment partners, with 91 responding, and found that 18 are substantially diverse, meaning firms ranging between 25% and 50% diverse-owned, which is down from 28 in the 2020 report.
Commonfund has broadened its definition of diverse managers beyond ownership to also include members of the investment team as well as those receiving a share of the firm’s profits effective July 1.
Community foundations are increasingly hiring or considering hiring diverse managers for their portfolios, according to a recent survey.
Dartmouth College has surveyed its approximately $8.5 billion endowment’s investment managers on the diversity characteristics of their organizations as part of its commitment to improving the diversity of the investment management industry, according to its inaugural investment manager diversity report.
